In just a few hours, the Energy and Petroleum Regulatory Authority (EPRA) is expected to announce new prices for diesel, super petrol, and kerosene in a much-anticipated review driven by the ongoing war between Iran and America in the Middle East.
The situation worsened dramatically on April 13 when President Trump announced a US Navy blockade of all ships entering and exiting the Strait of Hormuz—the narrow waterway through which 20% of the world’s daily oil supply flows. This pushed Brent crude past $102 a barrel, a 40% gain since the war began.
Global fuel prices have increased by over 30 percent due to the conflict, and the increase is expected to affect Kenya, which depends heavily on oil from the Middle East.
With fuel cartels in Kenya hoarding fuel in anticipation of a price hike, City News has learned from sources that EPRA wants to shield Kenyans from high oil prices, especially at a time when many Kenyans are experiencing a high cost of living.
With super petrol currently costing 178.28 shillings per litre in Nairobi, after the review, the commodity will be sold at 206.97 shillings per litre. Diesel, which is now retailing at 166.25 shillings in Nairobi, is expected to cost 206.84 shillings, while kerosene, currently retailing at 152.78 shillings, remains unchanged.
The International Energy Agency has described the current conflict as the “largest supply disruption in the history of the global oil market,” surpassing even the 1970s oil crisis. With peace talks collapsing over the weekend and a ceasefire set to expire on April 22, analysts warn prices have nowhere to go but up in the coming weeks.
The new prices are a big blow to fuel cartels, who were expecting to make millions, as they had anticipated the government would raise fuel prices by 30 percent.
Kenya, which imports nearly all its oil from the Middle East, is particularly exposed. Djibouti’s finance minister has warned that the war will “bring severe economic consequences for developing countries,” with small African states dependent on maritime trade facing the worst of the crisis. Kenyan fuel cartels hoarding stock could face a government crackdown if shortages worsen.
Here is a full price review of Super petrol, diesel, and kerosene across the country.
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